CGU Insurance has launched a new awards competition for Indigenous business owners.

Winners of the Wa-murayangkulang Awards will be provided with $5000 for personal or professional development. It is being run together with alumni of the Melbourne Business School’s MURRA Indigenous Masterclass Program.

CGU is sponsoring Indigenous Business Month developed by MURRA alumni, which provides positive role models for young Indigenous Australians. IAG launched its third Reconciliation Action Plan this year, outlining a commitment to provide employment and internship opportunities.

Indigenous businesses contribute between $2.2 billion and $6.6 billion to Australia’s gross domestic product.

Entries close on October 11.